UPDATE Melody Investment Advisors LP, an alternative asset manager focused on mission-critical communications infrastructure, closed its previously announced transaction to acquire CTI Towers, Inc. The company owns and manages approximately 1,150 wireless towers in the U.S., from a shareholder group led by Comcast Ventures, Comcast Corporation’s venture investment arm.
CTI Towers CEO Tony Peduto said, “The continued development of reliable, easily accessible wireless infrastructure has never been more crucial. We’re pleased to partner with Melody’s deeply experienced investor team as CTI grows and expands its reach to provide a much-needed service throughout the U.S.”
John Apostolides, Investment Partner at Melody Investment Advisors, said, “We have a long-standing relationship with Tony Peduto and other key members of the CTI Towers’ team and look forward to building on the foundation which Tony, his team and Comcast Ventures put in place over the last decade. Our team at Melody Investment Advisors is excited about expanding the number of mission-critical infrastructure assets that we can provide to our partners in the communications ecosystem.”
Melody’s acquisition of CTI Towers follows its acquisition in May of Harmoni Towers (formerly Uniti Towers). With the closing of the CTI Towers transaction, Melody Investment Advisors, via its affiliates, calls itself “one of the largest private owners and marketers of wireless infrastructure properties in the U.S.”